Illinois Municipal Retirement Fund Has $2.07 Million Stake in Northern Oil and Gas, Inc. (NYSE:NOG)

Illinois Municipal Retirement Fund cut its position in shares of Northern Oil and Gas, Inc. (NYSE:NOG) by 8.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 52,101 shares of the company’s stock after selling 4,748 shares during the quarter. Illinois Municipal Retirement Fund owned 0.05% of Northern Oil and Gas worth $2,067,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TFO Wealth Partners LLC raised its holdings in shares of Northern Oil and Gas by 112,100.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,122 shares of the company’s stock valued at $42,000 after purchasing an additional 1,121 shares during the last quarter. Principal Securities Inc. acquired a new stake in shares of Northern Oil and Gas in the fourth quarter valued at about $42,000. SRS Capital Advisors Inc. raised its holdings in Northern Oil and Gas by 305.9% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,230 shares of the company’s stock worth $46,000 after acquiring an additional 927 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of Northern Oil and Gas by 74.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,175 shares of the company’s stock worth $81,000 after purchasing an additional 930 shares during the last quarter. Finally, Assetmark Inc. boosted its holdings in shares of Northern Oil and Gas by 27.5% in the 4th quarter. Assetmark Inc. now owns 3,902 shares of the company’s stock valued at $145,000 after buying an additional 841 shares during the last quarter. Institutional investors and hedge funds own 98.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Piper Sandler increased their price target on shares of Northern Oil and Gas from $42.00 to $43.00 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Truist Financial raised their target price on shares of Northern Oil and Gas from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Jefferies Financial Group increased their price target on shares of Northern Oil and Gas from $45.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Citigroup decreased their target price on Northern Oil and Gas from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $46.00 price target on shares of Northern Oil and Gas in a research note on Wednesday, July 3rd. Three analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Northern Oil and Gas currently has an average rating of “Moderate Buy” and an average target price of $49.00.

Insider Activity at Northern Oil and Gas

In related news, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $40.86, for a total value of $56,877.12. Following the transaction, the president now owns 109,020 shares in the company, valued at $4,454,557.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Northern Oil and Gas news, CEO Nicholas L. O’grady sold 3,750 shares of Northern Oil and Gas stock in a transaction on Monday, July 8th. The shares were sold at an average price of $38.01, for a total value of $142,537.50. Following the completion of the sale, the chief executive officer now directly owns 224,332 shares of the company’s stock, valued at $8,526,859.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Adam A. Dirlam sold 1,392 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $40.86, for a total value of $56,877.12. Following the completion of the sale, the president now directly owns 109,020 shares of the company’s stock, valued at $4,454,557.20. The disclosure for this sale can be found here. Insiders have sold 6,534 shares of company stock worth $252,144 over the last ninety days. Insiders own 2.80% of the company’s stock.

Northern Oil and Gas Price Performance

Shares of Northern Oil and Gas stock traded up $0.14 during trading on Friday, reaching $39.48. 926,445 shares of the company’s stock were exchanged, compared to its average volume of 1,404,025. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.96 and a current ratio of 0.96. Northern Oil and Gas, Inc. has a 1-year low of $31.13 and a 1-year high of $43.75. The company has a market cap of $3.99 billion, a P/E ratio of 6.40 and a beta of 1.79. The firm’s 50-day moving average price is $38.87 and its 200 day moving average price is $37.84.

Northern Oil and Gas (NYSE:NOG) last released its quarterly earnings data on Tuesday, April 30th. The company reported $1.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.10. Northern Oil and Gas had a net margin of 30.01% and a return on equity of 34.06%. The business had revenue of $396.35 million during the quarter, compared to analysts’ expectations of $505.67 million. During the same period in the prior year, the company earned $1.76 EPS. The firm’s quarterly revenue was down 31.9% compared to the same quarter last year. As a group, research analysts anticipate that Northern Oil and Gas, Inc. will post 4.97 earnings per share for the current year.

Northern Oil and Gas Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Thursday, June 27th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.05%. The ex-dividend date of this dividend is Thursday, June 27th. Northern Oil and Gas’s payout ratio is presently 25.93%.

Northern Oil and Gas Profile

Northern Oil and Gas, Inc, an independent energy company, engages in the acquisition, exploration, exploitation, development, and production of crude oil and natural gas properties in the United States. It primarily holds interests in the Williston Basin, the Appalachian Basin, and the Permian Basin in the United States.